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Google Selling Motorola Mobility: Report

NEW YORK (TheStreet) - Chinese tech giant Lenovo is preparing to buy Google's (GOOG - Get Report) Motorola Mobility business, according to a published media report.

Citing a person familiar with the matter, ChinaDaily reports that the acquisition will include more than 10,000 mobile communication patents. The deal, which is worth at least $2 billion, is expected to be announced on Thursday morning in Beijing, according to ChinaDaily.

If an acquisition materializes, it would represent a massive write-down for Google, less than two years after it spent $12.5 billion on Motorola Mobility. The deal gave Google access to a vast, 17,000-strong, trove of technology patents, mostly related to the wireless industry.

Neither Google nor Lenovo has responded to TheStreet's request for comment on this story.

Earlier this month Lenovo announced a $2.3 billion deal to acquire IBM's (IBM) low-end x86 server business. The acquisition, however, is expected to receive a lengthy examination from the Treasury Department's Committee for Foreign Investment in U.S. (CFIUS). The inter-agency panel reviews foreign buyers' acquisitions of U.S. assets for national security threats.

Google shares gained 1.45% to $1,123 in extended trading on Wednesday.

--Written by James Rogers in New York.

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